Pair Correlation Between Tidex Bitcoin and Coinroom Bitcoin

This module allows you to analyze existing cross correlation between Tidex Bitcoin USD and Coinroom Bitcoin USD. You can compare the effects of market volatilities on Tidex Bitcoin and Coinroom Bitcoin and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Tidex Bitcoin with a short position of Coinroom Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Tidex Bitcoin and Coinroom Bitcoin.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 Tidex Bitcoin USD  vs   Coinroom Bitcoin USD

Tidex

Bitcoin on Tidex in USD
 13,696 
0.003729  0.00%
Market Cap: 63.2 K
(1,721)
12.57% Risk Free Arbitrage
All Coins Bitcoin Arbitrage Bitcoin Correlation

Coinroom

Bitcoin on Coinroom in USD
 15,418 
1,615  11.7%
Market Cap: 958.6 M
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  679,757  in Coinroom Bitcoin USD on November 10, 2017 and sell it today you would earn a total of  829,074  from holding Coinroom Bitcoin USD or generate 121.97% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Tidex Bitcoin and Coinroom Bitcoin
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy9.68%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Tidex Bitcoin USD and Coinroom Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinroom Bitcoin USD and Tidex Bitcoin is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Tidex Bitcoin USD are associated (or correlated) with Coinroom Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinroom Bitcoin USD has no effect on the direction of Tidex Bitcoin i.e. Tidex Bitcoin and Coinroom Bitcoin go up and down completely randomly.

Comparative Volatility

Coinroom Bitcoin USD

  
23 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinroom Bitcoin USD are ranked lower than 23 (%) of all global equities and portfolios over the last 30 days.